As the en bloc market continues to remain heated, a freehold apartment in Bartley – Sun Rosier has been sold to a joint-venture between property developers SingHaiYi Properties, together with Huajiang International Corporation for S$271 million or approximately S$1,885 per square feet (psf).
Sun Rosier, a 78-unit residential development is just located off Bartley Road at How Sun Drive and just a mere 5-minute walk to Bartley MRT Station.
On top of that, it is also located near various educational institutes such as Maris Stella High School and St Gabriel’s Secondary School.
Sun Rosier has a site area of around 146,046 square feet (sq ft). Thus, the final sum payable by the developers will work out to be around S$1,325psfppr. Each owner will stand to gain a payout between S$2.86 to S$4.77 million.
Property consultants have noted that the Sun Rosier site presents lesser risk involved for property developers and the future new launch will be of the right size to garner healthy interest from the market, making it easier for the developer to meet stipulations set by the government.
It was also noted that the joint-venture is set to capitalize on the strong demand of sites around the upcoming Bidadari new town – significantly as the sale of a mixed-use site at Woodleigh which drew 12 bids in total, with a top bid of more than S$1 billion.